GKN PLC Directorate Change and Cancellation of Listing

 
TIDMGKN 
 
LEI: 213800QNZ22GS95OSW84 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR 
INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A 
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 
 
19 April 2018 
 
                                GKN plc ("GKN") 
 
                Directorate Change and Cancellation of Listing 
 
The Board of GKN (the "Board") notes the announcement released at 8.06 am on 19 
April 2018 (the "Announcement Time") by Melrose Industries PLC ("Melrose") that 
its offer to acquire the entire issued and to be issued share capital of GKN 
(the "Offer") has become wholly unconditional. Accordingly, and consistent with 
its announcement of 29 March 2018, the outgoing Board now recommends that GKN 
shareholders who have not yet done so accept the Offer. 
 
Directorate change 
 
GKN announces that the following directors have resigned with effect from the 
Announcement Time: 
 
  * Michael Turner 
 
  * Anne Stevens 
 
  * Jos Sclater 
 
  * Phil Swash 
 
  * Angus Cockburn 
 
  * Tufan Erginbilgic 
 
  * Shonaid Jemmett-Page 
 
  * Richard Parry-Jones 
 
GKN further announces that the following persons have been appointed to the 
 Board as executive directors with effect from the Announcement Time for an 
interim period until such time as the cancellation of the listing of GKN shares 
on the UKLA's Official List and to trading on the LSE's main market becomes 
effective: 
 
  * Christopher Miller 
 
  * David Roper 
 
  * Simon Peckham 
 
  * Geoffrey Martin 
 
  * Jonathon Crawford 
 
  * Garry Barnes 
 
The newly appointed board wishes to thank each of the departing directors for 
their commitment to GKN. 
 
In accordance with LR 9.6.13R, GKN confirms that Christopher Miller, David 
Roper, Simon Peckham and Geoffrey Martin each currently serve as a director of 
Melrose. No further information is required to be disclosed pursuant to LR 
9.6.13R. 
 
Cancellation of listing 
 
GKN notes today's announcement by Melrose stating that its Offer has become 
wholly unconditional and that it has acquired GKN shares representing over 75% 
of the voting rights of GKN. GKN wishes to announce that applications will be 
made to the UK Listing Authority and the London Stock Exchange for the 
cancellation of listing and trading of the GKN's ordinary shares of 10 pence 
each. Accordingly, the cancellation notice period has commenced and 
cancellation is expected to become effective no later than 21 May 2018. 
 
Mike Turner, outgoing Chairman of GKN said today: 
 
"The Board of GKN thanks shareholders for their support over the course of the 
bid, but we now strongly advise those who have not yet tendered their shares 
into the Melrose offer to do so." 
 
Enquiries: 
 
Montfort Communications:                                          [phone] 
Nick Miles, Charlotte McMullen             [phone] / [phone] 
 
Rothschild (Financial Adviser to 
Melrose):                                                         [phone] 
Ravi Gupta, Yuri Shakhmin, Nathalie 
Ferretti 
 
RBC Europe Limited (Financial Adviser to 
Melrose):                                                         [phone] 
Mark Preston, Chris Squire, Alexander 
Thomas 
 
Investec (Corporate Broker to Melrose): 
Keith Anderson, Carlton Nelson                                    [phone] 
 
Person responsible 
 
The person responsible for arranging the release of this announcement on behalf 
of the Company is Kerry Watson, Company Secretary ([phone]). 
 
 
 
END 
 

(END) Dow Jones Newswires

April 19, 2018 03:18 ET (07:18 GMT)